by Doug Casey, International Man:
“Never interrupt an enemy when he is making a mistake,” said Napoleon.
In the 1970s, two of America’s biggest rivals were making big mistakes. Russia had been operating a centrally planned economy since the 1920s. China took up central planning after World War II.
Communist central planning was a curse to those who had to live with it. But it was a blessing to those who didn’t. It eliminated competition. Without the price signals coming from honest money and honest markets, the planners were in the dark.